Pony AI (NASDAQ:PONY) Stock Price Up 5.7% – Time to Buy?

Pony AI Inc. – Sponsored ADR (NASDAQ:PONY)’s share price shot up 5.7% during trading on Wednesday . The stock traded as high as $6.95 and last traded at $6.9550. 672,838 shares changed hands during trading, a decline of 85% from the average daily volume of 4,426,389 shares. The stock had previously closed at $6.58.

Analyst Ratings Changes

Several research analysts have recently issued reports on PONY shares. Zacks Research upgraded Pony AI from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Macquarie Infrastructure reissued an “outperform” rating and issued a $24.00 target price on shares of Pony AI in a research note on Tuesday, May 26th. Wall Street Zen cut Pony AI from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Weiss Ratings lowered Pony AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Finally, Barclays lowered their price target on Pony AI from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.95.

Pony AI Stock Down 0.9%

The stock has a market capitalization of $2.59 billion, a P/E ratio of -18.69 and a beta of 4.04. The company has a fifty day simple moving average of $8.51 and a two-hundred day simple moving average of $11.53.

Pony AI (NASDAQ:PONY) last announced its quarterly earnings results on Tuesday, May 26th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. Pony AI had a negative return on equity of 17.13% and a negative net margin of 128.22%.The company had revenue of $34.25 million during the quarter, compared to the consensus estimate of $22.30 million. As a group, equities analysts forecast that Pony AI Inc. – Sponsored ADR will post -0.67 earnings per share for the current year.

Insider Buying and Selling

In other Pony AI news, VP Luyi Mo sold 14,460 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $99,195.60. Following the sale, the vice president directly owned 350,156 shares in the company, valued at approximately $2,402,070.16. This trade represents a 3.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Haojun Wang sold 13,751 shares of Pony AI stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.86, for a total transaction of $94,331.86. Following the completion of the transaction, the chief financial officer directly owned 1,442,504 shares in the company, valued at approximately $9,895,577.44. The trade was a 0.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 45,558 shares of company stock valued at $312,528.

Institutional Investors Weigh In On Pony AI

Several institutional investors have recently added to or reduced their stakes in the stock. Carrhae Capital LLP acquired a new stake in shares of Pony AI in the 3rd quarter valued at about $6,686,000. Ghisallo Capital Management LLC acquired a new position in shares of Pony AI during the third quarter worth about $53,076,000. Flight Deck Capital LP grew its holdings in shares of Pony AI by 65.9% during the third quarter. Flight Deck Capital LP now owns 672,600 shares of the company’s stock worth $15,127,000 after buying an additional 267,200 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Pony AI by 266.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,974,499 shares of the company’s stock valued at $28,630,000 after buying an additional 1,435,358 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Pony AI by 10,441.3% in the 4th quarter. SG Americas Securities LLC now owns 543,825 shares of the company’s stock valued at $7,885,000 after buying an additional 538,666 shares during the last quarter.

Pony AI Company Profile

Pony.ai develops autonomous driving technologies for passenger and goods transportation. The company offers an end-to-end self-driving stack that combines perception, planning and control systems with proprietary hardware and software. Pony.ai’s solutions support robotaxi services and advanced driver-assistance system (ADAS) deployments across urban and suburban environments.

Founded in late 2016 by James Peng and Sean Gong, Pony.ai operates research and development centers in Fremont, California, as well as in Guangzhou and Beijing, China.